Egypt: MSMEDA signs $1.6mln financing agreement with Tadbiir to support SMEs
Basil Rahmy, CEO of MSMEDA, highlighted that the contract, secured via the commercial factoring system, aims to provide the necessary financing for citizens in all governorates to establish small and medium-sized enterprises (SMEs) in various fields.
The investments will mainly focus on industrial and productive projects, enabling them to develop and expand their business, while enhancing their production capacities.
Financing will be provided through direct and reverse factoring, with a minimum of EGP 250,000 per project. A maximum of EGP 15 million will be allocated for small projects and EGP 30 million for medium-sized ones.
Rahmy noted that the agency offers various financing tools to back SMEs, tailored to suit the activity of each business and enhance their growth potential.
These facilities include factoring, which finances deferred sales to provide immediate liquidity to help manage project cash flows.
Meanwhile, the reverse factoring enables project purchases from suppliers on credit to support the operating cycle without delays.
Financial leasing supports the purchase of assets by leasing them under long-term contracts, without the need for upfront investment.
For his part, Ahmed Kamal Selim, Managing Director of Tadbiir, said the company provided financing exceeding EGP 1.2 billion to more than 60 firms operating in various sectors across six governorates over the past two years.
It is worth noting that the MSMEDA has previously granted Tadbiir financing amounting to nearly EGP 30 million, in accordance with the agency's goals.
Tadbiir targeted SMEs in key sectors, including technology, food and beverage (F&B), and healthcare, securing job opportunities for citizens.
It also provided financing estimated at approximately EGP 60 million to companies, achieving 100% of the target for financial leasing and factoring clients.
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